Posted by Bill Taylor on November 02, 2000 at 19:28:44:
If you are a serious buyer I think local title companies are the place to go and ask if they can work a deal with you on preliminary searches. Mine just worked a deal with me that they will do the search before the sheriffs sale for nothing and then they will charge me an extra $25 when we do buy a house this way. This of course was done due to the fact that I have been a buyer. You can talk to these folks now becasue the title companies are not as busy as they were a yr ago. The reason they are not is due to not as many re-finances since rates are not as low as before.What you are looking for if there are leins that will not clear off in the sheriffs sale such as Federal tax leins and past due property tax. Good luck it can be quite a bit of fun. last week we bought a house worth at least 64000 for 35000. All cash however but not my cash the banks.
Posted by Joseph Madera on November 02, 2000 at 07:47:31:
Hi there,
I heard about a succesful re investor in South Fl who sends out to people in foreclosures Fed-Ex mail which costs about 5 bucks each. They say he is extremely successful.Of course this is an expensive way of doing business.I’ve tried to get this person to explain to me his process but to no avail.I don’t know why because I live in Miami and I wouldn’t be affecting his business.He has multiple ways of dealing with these people.They all involve quite complicated legal tactics.Also they involve a substantial amount of title knowledge.These legalities are used to delay , manipulate or manuever the foreclosure process.They involve discounting mtgs and convincing the owner to place the property in this person’s corps name.I am perplexed by this process and would like to know if anyone out there knows this or could direct me.
QUESTIONS
Could you explain to me the process in a nutshell of dealing with foreclosures? I know each deal is different but a basic formula would help.
I’ve heard that this guy in South Fl. either discounts the mtgs and then convinces the homeowners to deed the property in his corps name, then either flips it or rehabs it.Also I’ve been told that he uses sophisticated legal manuevers to delay the foreclosure action.And I’m not talking about bankruptcy or other well known ways.
Could you tell me something about this or direct me to someone who knows?
Also could anyone direct me as to where I could get a knowledge of doing title searches and gaining title knowledge?
Posted by phil fernandez on November 02, 2000 at 08:18:48:
Joe has a ton of info and tactics in buying preforeclosures in his Totally Dominate Your Foreclosure Market. It can be ordered from this site.
Click on the courses section and then click on the above mentioned course for a description of its contents. There will be idea after powerful idea in the course. However its not a beginners course.
You will have to know your specific states foreclosure law backwards and forward. Spend an hour with an attorney that specializes in foreclosures in your state. Get ahold of a copy of your states foreclosure laws and read them word for word. Only then will you appreciate Joe’s great foreclosure course.
try reading: Homeowners Guide TO Foreclosures by James Wiedemer , publisher :Dearborn Financial Publishing Inc.
the appendix has a section on each states local laws but be aware that the laws can change.
Re: Joe Kaisers Your Man - Posted by phil fernandez
Posted by phil fernandez on November 02, 2000 at 18:18:09:
Not sure. I’d either call a local attorney or call the state court system department and ask them where you can get a copy of your states foreclosure laws.